Worcester Retirement Board Supplemental Regulations

MEMBERSHIP:

March 29, 1993: All part-time, provisional, temporary or intermittent employees who are regularly scheduled to work twenty (20) or more hours per week are required to become members of the Worcester Retirement System and to make weekly contributions to the system pursuant to G.L. c. 32, §22 (1)(b). Those employees who are not regularly scheduled to work at least twenty (20) hours per week will not be allowed membership in the Worcester Retirement System.

PAYMENTS:

February 22, 1999: Effective September 1, 1998 all retirement payments made by the Worcester Retirement System [may] be made by electronic funds transfer. This will be a direct deposit system and [may] apply to all amounts payable to Worcester Retirement System's members and beneficiaries. This provision is not mandatory for any member or beneficiary of the Worcester Retirement System. The Worcester Retirement Boards will provide electric fund transfer notices to retirees when they first enroll in the program; any time there is a change in their monthly amount and at year-end (12/31).

July 27, 1998: Effective September 1, 1998, all retirement payments made by the Worcester Retirement System shall be made by electronic funds transfer. This will be a direct deposit system and shall apply to all amounts payable to the Worcester Retirement System's members and beneficiaries. (AMENDED FEBRUARY 22, 1999).

RECOVERY OF EARNINGS:

February 17, 1998: Recovery of earnings in excess of limitations set forth in M.G.L. c. 32, s. 91A.Disabled members of the Worcester Retirement System whose calendar year earnings exceed an amount which when added to the member’s retirement allowance is greater than the amount of regular compensation which would have been payable to such member if such member had continued in service in the grade held by him at the time he was retired plus the sum of five thousand dollars, must refund to the Worcester Retirement System the amount of said overearnings in either a lump-sum or, in the alternative, if the member can demonstrate that a lump-sum payment would result in financial hardship, a monthly payment schedule of not more than six months, provided the member amply demonstrates financial hardship to the Board’s satisfaction.

ELECTION RULES:

August 16, 1990: Any active, inactive or retired member may qualify as a candidate by filing with the retirement board nomination papers containing the signatures and addresses of at least fifty (50) members of the Retirement System. Regulation in effect for the 1990 Retirement Board Election only.